Axiom Investors LLC DE Has $6.77 Million Holdings in ACV Auctions Inc. (NASDAQ:ACVA)

Axiom Investors LLC DE grew its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 14.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 313,285 shares of the company’s stock after purchasing an additional 39,315 shares during the quarter. Axiom Investors LLC DE owned approximately 0.19% of ACV Auctions worth $6,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ACVA. William Blair Investment Management LLC boosted its stake in shares of ACV Auctions by 43.2% in the fourth quarter. William Blair Investment Management LLC now owns 12,099,686 shares of the company’s stock valued at $261,353,000 after buying an additional 3,652,871 shares during the period. Wellington Management Group LLP acquired a new stake in ACV Auctions in the third quarter valued at $21,540,000. Vanguard Group Inc. increased its stake in shares of ACV Auctions by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 14,245,915 shares of the company’s stock valued at $307,712,000 after buying an additional 738,391 shares during the period. Jennison Associates LLC lifted its stake in shares of ACV Auctions by 17.2% in the fourth quarter. Jennison Associates LLC now owns 4,980,354 shares of the company’s stock worth $107,576,000 after acquiring an additional 732,422 shares during the period. Finally, Norges Bank bought a new stake in ACV Auctions in the fourth quarter valued at approximately $10,746,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

Insider Transactions at ACV Auctions

In related news, CFO William Zerella sold 15,000 shares of ACV Auctions stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.57, for a total value of $308,550.00. Following the completion of the transaction, the chief financial officer now directly owns 462,452 shares in the company, valued at approximately $9,512,637.64. The trade was a 3.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Waterman sold 30,162 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.53, for a total transaction of $619,225.86. Following the sale, the insider now directly owns 314,738 shares in the company, valued at $6,461,571.14. The trade was a 8.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 423,411 shares of company stock worth $6,776,916 over the last quarter. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and cut their price target for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of ACV Auctions in a report on Monday, December 16th. Stephens raised shares of ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. JPMorgan Chase & Co. reduced their price target on shares of ACV Auctions from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Piper Sandler upgraded shares of ACV Auctions from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $20.00 in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, ACV Auctions has a consensus rating of “Moderate Buy” and an average target price of $23.14.

ACV Auctions Trading Down 3.3 %

NASDAQ ACVA opened at $14.11 on Monday. The business’s fifty day moving average is $18.06 and its 200-day moving average is $19.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -28.80 and a beta of 1.73. ACV Auctions Inc. has a one year low of $12.77 and a one year high of $23.46.

ACV Auctions (NASDAQ:ACVA) last released its earnings results on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm had revenue of $159.51 million for the quarter, compared to analysts’ expectations of $156.77 million. Equities research analysts predict that ACV Auctions Inc. will post -0.07 EPS for the current year.

About ACV Auctions

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.